Before you get any further, if you haven’t, I would highly recommend writing out your investment goals, your reason for investing, your constraints, etc.

REPS stands for Real Estate Professional Status—a tax designation that lets real estate investors write off rental losses (like depreciation and expenses) against other income, potentially saving a lot on taxes.

I have seen his writings and reviewed the Facebook group.

I imagined I needed to generate some sort of statement for him to write-off the interest on the bridge loan and figured I probably needed a statement form to reflect the proceeds from the joint venture flip. 

Here's an article about this topic by one of our speakers, @Natalie Kolodij: https://www.biggerpockets.com/blog/write-off-bpcon-travel-as...We hope to see you in Cancun! 

Reminder her that the sooner you can get it rented, the sooner she can be out of her lease.Get it in writing that she wants out of her lease and the end date and hold her to that. 

My point in bringing up the fact he continued paying is because he said to me in response to my letter stating he owes the difference in damages above the security deposit amount that he has nothing to do with her anymore, except it wasn't true because he still would write checks directly to me to cover her rent.2.

If you are working with an investor-friendly CPA, I would ask what you need to document to make it easy to write off the expenses.

But, when it comes time to put the deal together and pull the trigger: work with a seasoned real estate attorney with experience in structuring seller carry deals and writing thorough docs that cover your interests, especially with the "what ifs?"

I just personally don’t like his style and think he is more of a promoter than anything else, which can be said for many people we hear and see regularly.